121: It’s the Net Number That Counts. Tax Strategies to Consider When Selling a Business, Joel Valentine and Christoper Weir, Wessel and Company CPA

Succession Stories

When selling your business, it’s the net number that counts. Succession Stories host Laurie Barkman focuses on tax strategies to consider when selling a business and speaks with two colleagues from Wessel & Company, a regional tax and accounting firm in Pennsylvania- Joel Valentine, President and CEO, and Christopher Weir, Partner. Wessel provides corporate tax, business valuations, mergers and acquisitions, and ESOP advisory services. For anyone thinking about selling in the future, the advice is to treat your business like it’s for sale every day. In a transaction, we want to maximize the top number and also maximize after-tax proceeds. After all, it’s the net number that counts.

Listen in to learn more about:

• Ways to minimize the tax burden of selling a business and maximize overall value.

• Strategies to consider when selling a business

• Minimizing post-transaction tax obligations

• Differences bewteen reviewed and audited financials

• How businesses can benefit from ESOPs (Employee Stock Ownership Plans) as an ownership succession planning tool

Show links:

• Wessel & Company website: https://www.wesselcpa.com/
• Complete a Value Builder Business Assessment at MyTransitionScore.com
• Get your copy of “The Business Transition Handbook” on Amazon https://amzn.to/3Hqj2eo
• Decide When to Sell eBook: https://bit.ly/endgame-ebook
• Follow the Succession Stories YouTube Channel
• Connect with Laurie Barkman on LinkedIn: https://www.linkedin.com/in/lauriebarkman/
• Subscribe to The Business Transition Newsletter. Text Transition to [phone]

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About Succession Stories Podcast

Succession Stories is an award-winning podcast guiding entrepreneurs from transition to transaction. Hosted by Laurie Barkman, author of "The Business Transition Handbook: How to Avoid Transition Pitfalls and Create Valuable Exit Options."

Learn more about Laurie's strategic business transition planning and M&A advisory services by visiting: https://thebusinesstransitionsherpa.com

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SHOW SPONSOR: STONY HILL ADVISORS

Is this the year to sell your company? Don't leave your exit to chance.

Stony Hill Advisors works with owners like you to get ready and maximize value when you're ready to sell.

Visit www.stonyhilladvisors.com/podcast for a complimentary business valuation.